Tag: credit

Most of priority sector loans are supposed to serve a social purpose and they are meant to ensure that credit flows to those sections of society whom the banks may otherwise neglect. Photo: AFP It’s not just lending to the beleaguered corporate sector that has slowed—bank credit growth to the priority sector too has fallen considerably in recent months. The priority sector includes lending to agriculture, lending to micro and small enterprises in the manufacturing and services sectors, education and low-cost housing loans, loans to the weaker sections of the…

No exemption possible, Finance Ministry tells DMK MP The government has clarified that education loan defaults cannot be kept out of the ambit of credit rating bureaus such as the Credit Information Bureau of India (CIBIL). The government’s response was in reply to a question posed by DMK MP Tiruchi Siva. In a letter written to Finance Minister Arun Jaitley in August, Mr. Siva said student loans amounted only to 6.9 per cent of the total non-performing assets (NPAs), compared to industrial sectors such as steel that accounted for 36.4…

NEW DELHI: As per Indian Banks’ Association (IBA) Model Scheme, approved courses leading to graduate/ post graduate degree and P G Diploma conducted by Colleges/ Universities recognized by the University Grants Commission, the All India Council for Technical Education, the Indian Council of Medical Research, etc. are eligible for education loan. Model education loan scheme covers recognized non professional courses. Complaints regarding educational loans, as and when received by the Government, are taken up with banks concerned for corrective action. As informed by Public Sector Banks, during 2016-17 (upto December,…

TALLAHASSEE — Attorneys for the state and a group of parents asked the Florida Supreme Court this week to reject a lawsuit challenging a program that helps pay for tens of thousands of children to attend private schools. The filings came amid ratcheted-up debate about the Florida Tax Credit Scholarship Program. On Tuesday, House Speaker Richard Corcoran, R-Land O’ Lakes, described the lawsuit, spearheaded by the Florida Education Association teachers union, as “evil.” The union and other plaintiffs went to the Supreme Court after a Leon County circuit judge and…

Ever since LA Unified vaulted from a loominggraduation crisis to potentially breaking its graduation record last school year after implementing a wide-scale online credit recovery program, questions have been raised about how much students are actually learning. The apparent ease with which the district was able to substantially boost the number of diplomas it handed out through a $15 million credit recovery program turned heads and has some asking if the online courses are rigorous enough. Board President Steve Zimmer has questions, as did the Los Angeles Times editorial pages and some academics.…